Brands should earmark a day to create their own promotional holiday for enhancing sales

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 17, 2019, 9:57 AM UTC

Amazon successfully established "Prime Day" as a major shopping day for its consumers.

This piece argues that brands should earmark a day and make it their biggest promotional day. Instead of relying only on festive shopping days like Black Friday, when most retailers offer huge discount sales, businesses should look to create their own promotional holidays.

Companies should strategically pick a day and then stick with it. Creating their own day can enable brands to create inspiration, drive traffic and ultimately push sales on their own terms. Apart from boosting sales, it can also help reach out to new customers.

Organisations can also leverage motivational factors like a purpose-led mission and or use the “scarcity” model to increase sales. But, businesses should understand what motivates or engages their prospective customers before developing a strategy.

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[5 minute read]